{"data":{"id":"us-ky/krs-42.205","jurisdiction":"us-ky","citation":"KRS 42.205","heading":"Permanent pension fund.","body":"(1) There is hereby established within the Finance and Administration Cabinet the\nKentucky permanent pension fund for the purpose of addressing the\nCommonwealth's unfunded pension liabilities. The proceeds contained in this fund\nshall be used only for contributions to the Commonwealth's pension funds.\n(2) The fund may receive:\n(a) State appropriations;\n(b) The net proceeds from the sale of real property owned by the Commonwealth\nor any agency thereof; and\n(c) Any settlements or judgments resulting from litigati on in which the\nCommonwealth or any of its agencies is a party, after costs of litigation and\nmandatory deductions or restitution to consumers have been deducted.\n(3) Any unallotted or unencumbered balances in the fund shall be invested pursuant to\nKRS 42.500.\n(4) Income earned from the investments shall be credited to and become part of the\nfund.\n(5) Notwithstanding KRS 45.229, any fund balance at the close of the fiscal year shall\nnot lapse but shall be carried forward to the next fiscal year. All amounts in the fund\nshall remain in the fund and shall not be expended or appropriated without the\nexpress authority in an enacted biennial budget bill.","path":["KRS Chapter 42"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=45395","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:02Z","sha256":"110940cf72f00b31a6a55fdad36830b24532fd911fe4092014d72f8f547e1ad2","source_id":"us-ky","stale":false,"prev":"us-ky/krs-42.200","next":"us-ky/krs-42.210"},"notice":"GroundRules: Original legal text. Not legal advice."}